By Kimberly Chin
International stocks trading in New York finished lower on Tuesday.
The S&P/BNY Mellon index of American depositary receipts fell 0.3% to 166.21. The Asian index declined 1.2% to 223.43. The Latin American index tumbled 0.7% to 182.78. And the emerging-markets index fell 1.5% to 370.52.
However, the European index rose 0.4% to 147.95.
Teva Pharmaceutical Industries Ltd.'s ADRs tumbled 7.2% on Tuesday after the company and MODAG GmBH said they had entered into a strategic collaboration for the exclusive global licensing and development of two of MODAG's compounds that could potentially be used for the treatment of multiple system atrophy and Parkinson's disease.
I-Mab's ADRs fell 6.1% after the clinical-stage biopharmaceutical company along with Sinopharm Group Co. said they have entered into a strategic partnership that involves I-Mab expanding its distribution within China, as well as stepping up its commercial activities and go-to-market process for I-Mab's different and novel products to treat Chinese patients.
Reckitt Benckiser Group PLC's ADRs, which trade over the counter, rose 5.8% after the consumer-goods giant said demand for its cold and the flu products was picking up as social distancing eases, helping the owner of Mucinex medicine report stronger quarterly sales and raise its guidance for the year.
Write to Kimberly Chin at firstname.lastname@example.org
(END) Dow Jones Newswires